Apple sales down, but iPhone 7 offers glimmer of hope

This means that year over year, iPhone sales were down 14.9 percent, iPad sales were down 8.7 percent, and Mac sales were down 11.5 percent.

Apple announces earnings Tuesday, and is expected to report softer iPhone sales for the second quarter in a row.

But even those declining results were better than Wall Street's expectations, and Apple's shares are up almost 5 percent in after-hours trading.

The company reported a 15pc decline in revenue to $42.4bn (£32.3bn) in the three months to June 25, while profits fell from $10.7bn to $7.8bn. The new iPhones also feature a physical home button in this video, dispelling the rumor that Apple would move to a touch-sensitive button in the iPhone 7. This equals earnings per share of $1.42, compared to $1.85 for fiscal Q3 of 2015. The company made $42.4 billion in revenue. Apple anticipated $41 billion to $43 billion in global revenue.

Gross margin in the period that ends in September will be 37.5 percent to 38 percent.

Apple projected revenue of $45.5 billion to $47.5 billion for the current quarter, better than the $45.7 billion predicted by analysts polled by Thomson Reuters. Nevertheless, this isn't the first time we've heard talk of three distinct iPhone 7 variants, so we're not ruling this leak out entirely, nor are we particularly surprised by it. For the moment, however, we have to wait a little bit longer until mid-September, when Apple will officially take the wraps off the new model and confirm its name and features. But, aside from the screen size, there are more reasons to fall in love with the next iPhone. Meanwhile, economic woes have hurt sales in China.

The iPhone SE would thus be the third model launched after the standard iPhone 6 and the 6s, so the iPhone 7 would only see daylight next year, followed by the 7s and 7 SE if Apple maintains the same strategy. Its share in May slid to 10.8% from 12% a year ago, dropping it from third place to fifth, according to Counterpoint Technology Market Research.

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